News

Private Real Estate Investment Firm, Cohen Asset Management, Inc. Announces the Acquisition of a Nine Building Portfolio of High Quality Northern New Jersey Industrial and Office Properties  

Los Angeles, California (August 29, 2012)

NJIND JV LLC, an affiliate of industrial and commercial real estate investment firm Cohen Asset Management, Inc., announced the acquisition of nine high quality assets in Northern New Jersey.  The portfolio, comprised of approximately 2.6 million square feet of warehouse and office space primarily in port-centric locations, represents one of the largest acquisitions of industrial properties in Northern New Jersey in many years. The purchase is part of a series of transactions that Cohen has completed on both the east and west coast over the past year and is reflective of Cohen’s ability to source transactions through its longstanding operator model.

 
"As previously outlined, one of our top priorities is to grow our East Coast presence," commented Bradley Cohen, Cohen’s President and CEO. This transaction highlights Cohen Asset Management’s commitment to our target markets and our ability to establish a concentrated ownership position by assembling a critical mass of high quality, functional industrial real estate. Cohen went on to continue saying, "With this acquisition, we are making significant progress towards achieving our strategic objectives."

 "I am very pleased with the execution of this transaction and the operational footprint it now gives us," stated Howard Freeman, Cohen’s Senior Vice President of Investments. "This is the largest industrial real estate transaction completed in Northern New Jersey in recent memory, and all involved did an outstanding job in working together seamlessly to ensure a successful close.”

 "This is a terrific opportunity for our investors to deploy capital and acquire high-quality assets in a gateway market," Freeman continued. "These properties, located in port-centric and other land constrained, “infill” submarkets are an attractive investment given significant barriers to entry and ongoing tenant demand for functional supply chain infrastructure."

 The transaction is consistent with Cohen’s overall investment strategy which seeks stable, predictable cash flow coupled with opportunities to create additional value through its proven effective active asset management approach. Cohen will continue to seek out private property owners and institutions looking to monetize their equity and debt investments as a means to build upon this transaction.
  
About Cohen Asset Management
Cohen Asset Management, Inc. is a private commercial and industrial real estate investment firm. Established in 1992 and strategically headquartered in Southern California with a regional office in Northern New Jersey, Cohen Asset Management, Inc. is a proven, national real estate owner and operator with a primary focus on the industrial real estate sector. The firm’s relationships extend to high net worth individuals, institutional investors and domestic business entities. The private real estate investment firm is an active operator and investor of commercial and industrial real estate assets and has a well-established reputation as a value added investor focusing on commercial and industrial real estate opportunities that are inefficiently priced due to a variety of circumstances such as vacancies, rollover risk, sub-optimal management, inefficient current use, deferred maintenance, long-term undervalued leases or other unfavorable property and market conditions.